Microsoft Excel continues to excel when it comes to creating spreadsheets and manipulating data. We can attribute some of its success to the large number of templates available for free on the web. From Invoices to Attendance management you get a few. In this article, we will discuss Excel templates for payroll management.
Using an Excel sheet to manage payroll is a DIY approach better suited for small teams. Others should look into scalable software solutions or, in the case of local shops and businesses, a hired accountant. So, we will share some freemium type Excel template options for managing payroll for your employees and employees.
Let’s start.
1. Employee Payroll Calculator
This one comes from the house of Microsoft. The payroll management template spans three worksheets. There is one each for employee pay and taxes, and the last for generating payroll and payroll based on employee hours worked.
Payroll Calculator has separate columns for leaves, overtime, and sick hours. The template is free to download and use with no strings attached. It’s the perfect, no-nonsense way to get things done quickly.
2. 7 Steps Payroll Template in Excel
Using a payroll template in Excel is one thing, but understanding basic calculations as well as concepts is another. Fit Small Business is one of the easy to use templates and also detailed for payroll management. It is so comprehensive that the template developers have written a guide on how to use it efficiently.
The guide, in both text and video format, will teach you how to set up employees, enter hours worked, review calculations, etc. It will direct you to some important questions such as: I recommend reviewing everything before using the template.
3. Payroll Calculator – Spreadsheet123
It’s time for some freemium options. Spreadsheet 123 has created a free or light and paid payroll calculator Excel template. Try the free version and review their guides before purchasing the paid version.
One of the benefits is updates that reflect changes to taxes at the state and federal levels. They recently updated the page to include the changes made in 2020. There is a demo video to walk you through the steps. The pro version will cost $39.95, which, to be honest, isn’t low. It also supports OpenOffice.
4. Employee Time Tracker and Payroll Template
Another Excel sheet to manage and track employee payrolls and time. There is nothing fancy here. In case you have more than one worker, a simple page with columns for entering the worker’s names, daily wage and title,
The template is color-coded, with working days in blue and non-working days in non-red. This makes it easy to understand the activity level of workers at a glance.
Note that the free version cannot be modified and has a single user license. The pro version will cost you $24 and will also remove the single user restriction.
5. Time Sheets and Payroll
Different businesses operating in different niches, sizes and industries have different needs. Therefore, there is no one size fits all payroll management and timesheet Excel template. That’s why Vertex has created many Excel templates for both time/hour calculation and payroll.
For those who work in the travel business, there is a payroll template for tracking mileage. Do you have employees working multiple shifts? Employee Shift Schedule or Work Rotation should help. There are more than 18 templates and you can edit them whenever you want.
Note that these templates are for private use only and are not intended for redistribution or resale.
6. SME Guide Templates
These guys cover all things small business and that includes payroll templates for Excel application. I think they exaggerate themselves by creating more than ten templates for different business situations and conditions in the payroll management itself. All these templates are completely free to download from the link below.
There are templates for employee payroll budget, registration, timesheet, statement, invoice, vacation and more. It’s like having a template for each flavor. I suggest you take a look at them because you will surely find something that fits your business model. Each template has a short description next to it, but nothing is better than opening the page and trying it yourself.
Life Template
Unfortunately, there is no template for life, but you can have one for managing your employees’ payroll in Excel sheets. Most excel sheets are flexible and can handle large amounts of data, but a lot depends on what you want to achieve. If you want a record and want to do some simple calculations, Excel should be more than enough for your needs. But what about accounting? Again, small businesses don’t have the volume to warrant full-fledged software, but if that’s the case, consider an app.
Next: Click the link below to learn how you can use filters to search and manipulate data to reach meaningful conclusions.
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